What is economics all about?

Before looking at where an economics degree can take you, it’s worth considering what economics actually involves.

You might think of economics and just think about money or finances or the stock market – and those topics are certainly part of the economics spectrum. But in actuality, the subject covers a much wider scope than that. It is about understanding why both companies and consumers make certain spending decisions, and their short- and long-term impacts.

Economics, then, takes a more general view of money and finances, and how they make the world go round. It is about the production and distribution of wealth. It’s about using that knowledge to forecast future trends and consumer behavior. These are the key principles of any degree in economics – including the MS in Applied Economics at the University of Cincinnati Carl H. Lindner College of Business.

The master’s program at Lindner teaches students key concepts related to economics, such as Bayesian, spatial, and time-series econometrics. But they won’t remain as concepts – you’ll go on to apply them in your future role. And as we’ll discover, a degree in economics opens a lot of doors for your career.

The skills that Hayley gained from her MS in Applied Economics

To learn more about the MS in Applied Economics at Lindner, we heard from two of its recent graduates. The first of those is Hayley Coldiron. She says that the emphasis on taking economic theory and applying it to real-life scenarios was a standout feature of the program.

“Really, the beautiful part about the program is that they’re not just teaching you how to interpret the data sets, but how to actually apply it. It’s very project-based – you talk to alumni about what they do in different industries and you really learn how to take that and apply it to your career,” she explains. (01:51)

However, a vital part of any master’s program is being able to take that theoretical knowledge and practical experience into a business. That’s where a university’s career center comes in. With Lindner being on the doorstep of several major employers, the connection between your education and your future career is more visible than ever.

“You’re not going to get any better experience than being ten minutes away from a business district with so many Fortune 500 companies and really passionate, engaged alumni,” adds Hayley. (02:45)

What Lindner graduate Brady did with his economics degree

A degree in economics can lead to a variety of different careers, including market research, insurance, healthcare, banking, and finance. Postgrad job titles for economics graduates include financial advisor, actuary, credit analyst, economic consultant, and financial analyst.

Brady Kraemer, another graduate of the Lindner MS in Applied Economics, is now a Financial Analyst in Cincinnati, Ohio. “My whole job is to process huge quantities of data and tell a concise story,” he shares. “The ramp-up period for someone in my position is a year, but thanks to my finance degree, my applied economics master’s, I’ve been able to ramp up in three months.” (02:10)

Just as economics is a more varied subject than you might imagine, the career possibilities it creates are more varied than you might imagine. More than half of Lindner’s Applied Economics graduates receive a job offer before graduating, which suggests it remains a highly valued degree among employers. 

No degree comes with career guarantees. But what’s clear is that a degree in economics can provide you with the skills and knowledge you need to launch a successful career in a number of fields.

If you’d like to learn more about the career opportunities that a degree in economics or finance can bring you, feel free to reach out to one of our master’s ambassadors.